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On January 1, 2017, Flounder Corporation granted 1,900 shares of restricted $5 par value common stock...

On January 1, 2017, Flounder Corporation granted 1,900 shares of restricted $5 par value common stock to executives. The market price (fair value) of the stock is $63 per share on the date of grant. The period of benefit is 2 years. Prepare Flounder’s journal entries for January 1, 2017, and December 31, 2017 and 2018.

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